. >>> between fiscal cliff talks and global economic recovery, business stories will continue to dominate the headlines as we head into the new year but there was also a lot to talk about in the last year. we recap the top business stories of 2012. >> reporter: the economy continued its slow recovery with help from the rebounding housing markets. both sales and prices increased. >> buyers are coming back. >> reporter: five major banks agreed to a $25 billion settlement for unfair mortgage practices. the ceo of jpmorgan chase has revealed a trading loss that cost the bank more than $6 billion. we made a mistake. i'm absolutely responsible. the buck stops with me. >> reporter: facebook cheered as its stock became available to the public. shares dropped quickly, eventually sliding into the 20s. the broader stock market gained ground. though wall street worried debt troubles overseas could cause a collapse of the european banking system. >> that could be very, very ugly. >> reporter: severe weather took a toll on the nation's economy. the drought scorched 80% of u.s. farmland. >> it is in a w